Truong My Lan's net worth is $12 billion in 2024. She is 65 years old Vietnamese businesswoman. She is facing the death penalty due to the most significant financial fraud in the history of Vietnam.
Truong My Lan used shell companies to take loans and transfer funds to her or her subordinates' accounts. According to the news, she has taken loans worth $12.5 billion, which is around 3% of Vietnam's total GDP. She used Sai Gon Joint Stock Commercial Bank and caused the Bank run.
Here is everything about Truong My Lan's life, net worth, and case.
Truong My Lan:
Truong My Lan was born on 13 October 1956 in Saigon, South Vietnam. In Vietnam, she is known as " Trương Muội."
Lan married Eric Chu Nap Kee and has one child, Chu Duyệt Phấn.
Truong My Lan's Net Worth:
There is no official detail about her net worth available online. Yet her loan record states that Truong My Lan's estimated net worth is $12 billion.
But, as she is sentenced to death, her net worth will become zero. It is expected that the Vietnamese government try to sell her assets to recover the damage.
Truong My Lan Career:
Truong My Lan runs a hair accessories business in HO Chi Minh City. In 1992, she launched her real estate business. She is the founder of Vạn Thịnh Phát Group.
Lan runs a real estate business that includes financial services, hotels, residential buildings, shopping centers, offices, and more.
Truong My Lan illegally controlled Sai Gon Joint Stock Commercial Bank between 2012 and 2022. She was behind the merger of 3 failed banks, which founded SCB. She faked companies and used shell businesses to take 93% of the bank's loans.
Arrest and Trial:
Truong My Lan was arrested in October 2022 on charges of illegally taking loans worth $12.5 billion. She used 916 fake applications to take loans.
On 2nd March 2024, the trial began, and on 11th April 2024, Truong My Lan was sentenced to death. Her other subordinates were also sentenced to jail. Lan's husband, Eric Chu Nap Kee, will spend 9 months in prison, and her niece, Truong Hue Van, will spend 17 years in jail.
Truong My Lan FAQs:
Who is Truong My Lan?
Truong My Lan is the founder of Vạn Thịnh Phát Group. She is the biggest fraudster in the history of Vietnam.
What is Truong My Lan's Age?
Truong My Lan will be 65 years old in 2024.
Who is Truong My Lan's husband?
Eric Chu Nap Kee is Truong My Lan's husband.
Why was Truong My La Sentenced to Death?
Truong My Lan used 52 shell companies to take loans worth $12.5 billion. She forged the most significant financial fraud in Southeast Asia.
Conclusion:
Truong My Lan's life and net worth are a journey from rags to riches to rags again. She became the biggest businesswoman in Vietnam, but her financial fraud has made her the biggest fraudster in Southeast Asia. Truong My Lan is now facing the death sentence.
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